Fi911

JANUARY 18, 2024

These accounts frequently pertain to credit cards and serve as a means to make unauthorized purchases A criminal might use stolen personal information to open a bank account, for example. They might also try to apply for a credit card, or make unauthorized purchases in the victim’s name.

Account Takeovers 105

Account Takeovers MFA Fraud Detection Credit Cards 105

PYMNTS

JANUARY 8, 2021

At a time of huge digital transformation when consumers have quicker access to more products and services than ever, why be clunky if you can be seamless? Serving Consumers, Helping Businesses. If you stopped paying a credit card bill or stopped paying your installment loans, your credit obviously is impacted adversely.

BNPL 106

BNPL Credit Cards Returns Social Security 106

VISTA InfoSec

JULY 5, 2023

Personal health data, a compilation of information related to a patient such as their Names , Birthdates , Social Security Numbers , and other medical record data , is used to identify their medical history and records stored in a database. is the most up-to-date set of guidelines for protecting credit card data.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

PYMNTS

APRIL 30, 2020

Economic data released Thursday (April 30) may hint at a “one-two punch” for consumer spending — indicating a reluctance to spend now, yes, but paycheck pressures may keep purses and wallets closed for a while. Consumer spending slid 7.5 The stage already has been set for consumer caution to be the rule of the day.

Consumer 57

Consumer Fed Origination Social Security 57

Fi911

JULY 8, 2024

The intent is to use stolen money, personal information, or both, to take advantage of both consumers and businesses. Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases.

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

PYMNTS

JUNE 24, 2020

Aided by the dark web, where data is for sale, spanning medical records to credit card numbers, the bad guys can ply their trade, cobbling together synthetic IDs or using brute force credit card attacks. But time is of the essence for FIs seeking to meet consumers as they jump into uncharted waters.

Online and Mobile Banking 104

Online and Mobile Banking Contactless Payments Authentication Credit Cards 104

PYMNTS

DECEMBER 8, 2019

And the price for a richer consumer experience online and via mobile — one of the defining trends of payments and commerce in 2019, and probably well into the 2020s — is that the code that creates those experiences often leave opening for fraudsters to exploit. Consumer Awareness. Everything has a price.

Consumer 53

Consumer Third Party Vendors FBI Security 53

PYMNTS

JULY 4, 2018

The news comes almost a year after Equifax announced that it had experienced the cybersecurity incident that may have impacted approximately 143 million consumers in the U.S., as well as the credit card numbers of approximately 209,000 people. website application vulnerability to gain access to certain files.

Cybersecurity 76

Cybersecurity Data Breach Breach Social Security 76

PYMNTS

JUNE 5, 2019

In a Securities and Exchange Commission filing, LabCorp. said its billing vendor , American Medical Collection Agency (AMCA), is currently in the process of sending notices to about 200,000 LabCorp consumers whose credit card or bank account information may have been accessed in the breach.

Breach 53

Breach Data Breach Social Security Credit Cards 53

PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction. Interacting With The Cardmember.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

DECEMBER 31, 2018

While some say consumers rediscovered department store shopping in 2018, the same could also be said of cybercriminals — at least, at two big ones. Retailer Hudson’s Bay got story started in early April with the disclosure that Saks Fifth Avenue and Lord & Taylor stores in North America had their payment cards compromised.

Data Breach 92

Data Breach Breach Database Compromise 92

PYMNTS

DECEMBER 17, 2018

Several consumers noted that they didn’t have the app installed, but their credit cards were billed for purchases they never made. Japan and Paytm, the India digital payments company, said it would make changes to the app and urged users to contact the credit card companies directly to report the charges.

Security 63

Security Credit Cards Settlement Payments 63

PYMNTS

FEBRUARY 22, 2018

Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 Al Pascual, Javelin’s research director and head of fraud and security, expects 2018 to be another record year. Who says you can’t teach an old criminal new tricks?

Identity Theft 56

Identity Theft Account Takeovers Push-to-Card Social Security 56

PYMNTS

OCTOBER 4, 2017

The Equifax hack continues to hit those impacted, with new research finding that consumers will have to shell out a collective $4.1 billion to freeze their credit reports and prevent fraudsters from using their leaked personal information. million consumers , as well as 209,000 credit card account numbers.

Consumer 42

Consumer Data Breach Breach Social Security 42

PYMNTS

DECEMBER 7, 2020

But the consumer doesn't even know [banks] haven't asked for location. The consumer is conditioned to think that they have because every other app does.”. I think [consumers] recognize that if location is not being asked for or provided, then that app is inherently not as secure as it could be,” he said. A Rude Awakening.

Risk 93

Risk Online and Mobile Banking Security Social Security 93

PYMNTS

AUGUST 11, 2020

“While there’s a lot we don’t know, we do know a few things about what scammers do when this kind of uncertainty is in the headlines,” wrote by Jennifer Leach, associate director of FTC’s Division of Consumer and Business Education, on the agency’s blog. Consumers who spot a scam should contact the FTC at ftc.gov/complaint.

FTC 69

FTC Federal Trade Commission Scams Direct Deposit 69

FICO

JULY 7, 2020

Earlier this year, many received a text message they thought was from FedEx , but instead came from bad actors directing recipients to enter credit card information, which lead to being billed $98.95 Monitor your credit report and consider freezing your credit. Check your credit report for any unfamiliar activity.

Scams 97

Scams Smishing Phishing IRS 97

PYMNTS

SEPTEMBER 13, 2017

Last week , Equifax disclosed a data breach that could impact 143 million consumers. The information includes names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers, though the company also reported U.S. 209,000 | Credit card numbers possibly gathered by Equifax hackers.

Data Breach 53

Data Breach Breach Disputes Social Security 53

PYMNTS

JANUARY 26, 2021

Retailers need to keep up to date on how consumers’ payment preferences are changing to remain appealing and drive revenues. Being able to select compelling credit or deferred payment options with straightforward fee structures when checking out with merchants could help more consumers feel secure in making the decision to buy. .

BNPL 58

BNPL Credit Cards Point-of-Sale (POS) Payments 58

PYMNTS

SEPTEMBER 18, 2017

The stolen data included Social Security numbers, birth dates and other personal information. According to the report, given the fact that hackers presumably got Social Security numbers, birthdates and addresses, they can go after those people that have larger bank accounts, more lines of credits and greater assets.

Breach 66

Breach Risk Data Breach Federal Trade Commission 66

PYMNTS

FEBRUARY 10, 2020

And except when you’re the first retailer to get rung up under the new California Consumer Privacy Act (CCPA). 15 that hackers stole customer names, credit card numbers and other personal information. The CCPA is intended to give consumers control over their personal information online. Except when it’s a lawsuit.

CCPA 62

CCPA Laws Privacy Data Breach 62

PYMNTS

DECEMBER 23, 2019

Starting with one or two pieces of real information (a Social Security number is always one of them, sometimes paired with a real name), fraudsters take their time to slowly nurture a fake credit profile until it has a good enough record to make a big strike. It is often a big strike.

Social Security 52

Social Security Identity Theft Wire Transfer Security 52

PYMNTS

JULY 15, 2020

Hospitals and healthcare professionals are adjusting their operations to care for a growing number of patients infected with COVID-19 and mitigate the spread of contagion,” the Tracker states, “but they are also improvising ways to remotely deliver services to meet consumers’ skyrocketing demands for digital healthcare options.

Data Breach 58

Data Breach CCPA Breach Social Security 58

PYMNTS

DECEMBER 16, 2018

Underwood said all five companies had mobile apps that had a well-known security vulnerability that enabled hackers to intercept private data including passwords, social security numbers, credit card account numbers and bank account information.

Security 55

Security Identity Theft Settlement Encryption 55

PYMNTS

MAY 31, 2018

It makes sense, as the regulation adds strict new standards around these actions – and particularly around consumers’ rights to control their own data, even going so far as to request its total erasure from an organization’s system. The internet, said Kilb, is littered with personal data that was supposedly secured by encryption.

ATM 43

ATM Consumer Data Breach Credential 43

PYMNTS

DECEMBER 9, 2016

Breaches may seem like a daily part of life in the information age, but as Intel noted in a recent whitepaper titled “Beyond PCI Compliance: Protecting Consumer Data and Brand Reputation,” the data targeted by cyberthieves and at risk is changing. Credit cards fetch $4 to as high as $12.

CHIPS 74

CHIPS MSPS Breach Data Breach 74

PYMNTS

MAY 12, 2020

The two-week cycle, Ossip said, is a remnant of an era when that was roughly how much time it took to true up those two systems or get all the necessary managerial approvals to send the files to be paid, and then transmit the funds — either via check or ACH-based direct deposit — to consumer bank accounts.

Payroll 108

Payroll On-Demand Direct Deposit Process 108

PYMNTS

NOVEMBER 6, 2018

PCI compliance is vitally important for businesses that process credit cards. The standards put forth by the PCI Security Standards Council – the PCI Data Security Standards – offer a framework for ensuring data security, and they must be followed in order to avoid fines and other penalties. Gearing up for GDPR.

PCI DSS 71

PCI DSS Privacy Breach Irrevocability 71

PYMNTS

MARCH 1, 2019

But some criminals are going a step further – essentially pretending to be legitimate consumers. It even comes down to the use of consumers’ phone numbers and children’s Social Security numbers. So are the fraud defenses deployed by merchants, payment service providers and financial institutions. Synthetic Fraud Process.

Social Security 60

Social Security Fraud Prevention Crime Fraud Detection 60

PYMNTS

JULY 24, 2020

This is a particularly subtle and nefarious kind of attack, in which bad actors create fake identities using real details stolen from different consumers. Criminals can then use these identities to open bank and credit union accounts, secure loans and ultimately vanish without ever repaying.

Credit Union 73

Credit Union Federal Reserve Crime Authentication 73

PYMNTS

JULY 28, 2020

Traditional fraud-fighting methods can fail to detect this subtle form of deception, in which criminals cobble together details from numerous consumers to create unique identities. Cybercriminals often use these identities to set up bank accounts and apply for credit cards and loans. billion from the nation’s consumers in 2018.

Online and Mobile Banking 53

Online and Mobile Banking Social Security Identity Theft Fraud Detection 53

PYMNTS

JUNE 22, 2020

And for the customers, there’s the rabbit hole of trying to prove that the bad guys co-opted their names, social security numbers and other data. Against that backdrop, FIs must walk a tightrope, balancing customer security with the customer experience, minimizing onboarding friction while meeting regulatory requirements.

Identity Theft 77

Identity Theft Database Account Takeovers Issuers 77

PYMNTS

JANUARY 27, 2017

In your wallet is a driver’s license and possibly a Social Security card. Maybe a credit card or two. There are issuing authorities stretching from the Social Security Administration to the DMV, who, as Webster noted, may offer an analogue for the issuance of such attributes.

Social Security 57

Social Security Online and Mobile Banking Credential Governance 57

PYMNTS

NOVEMBER 22, 2017

However, this dramatic connotation is still very real in the minds of many average consumers. Today, there are many areas in consumer business, financial services and payments that are fraught with friction, human involvement and user data to process — So. Most of our readers know better than to think of it that way.

AI 74

AI Credit Cards Non-Bank End User 74

PYMNTS

JUNE 21, 2016

The company noted that the breach has been reported to its credit card processor along with federal law enforcement officials. The payment data of customers who used credit cards to purchase computers on Acer’s website may have been exposed, the company warned.

Compromise 42

Compromise Identity Theft Federal Trade Commission Credential 42

PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Social Security numbers. ATOs mostly] happen through social engineering,” he said. Shetty explained.

Account Takeovers 82

Account Takeovers Database Authentication Crime 82

PYMNTS

FEBRUARY 19, 2019

Banks, financial institutions (FIs) and other members of the financial world are, thus, dealing with a rising flood of identity theft and application fraud, as bad actors look to capitalize on the email addresses, Social Security numbers, credit details and other information they have on hand. Around the Digital Fraud World.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63